This is BTCUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.

You can find price analysis from previous days on blog here and on Tradingview here.


Analysis Summary

Market in last 24hrs

  • BTCUSD consolidated after getting support from the lower band
  • Price volatility was high. The market moved ~3.43%, between $10.56k and $10.21k

Today’s Trend analysis

  • BTCUSD expected to see an uptrend as the price is moving in the ascending triangle with Bollinger band squeeze continued
  • Price at time of publishing: $10,454
  • BTC’s market cap: $193 Billion
  • Oscillator indicators are mostly neutral. RSI at 56
  • Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in value for the red candle and decreased for the next blue candle followed by an increase

Price expected to see an uptrend as the price is moving in the ascending triangle with Bollinger band squeeze continued. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, with the histogram in the positive direction. RSI at 56, above the midline in the neutral region. CCI at around 48, in the neutral region with an up move. Another interesting point to notice here is that the volume observed an increase in value for the red candle and decreased for the next blue candle followed by an increase indicating a strengthening buying pressure.

BTCUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 48 in the neutral region. RSI with a value of around 56 above the midline in the neutral region.

Definition:- Oscillator indicators are based on the market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.

SellNeutralBuy
083
NameValueAction
Relative Strength Index (14)56.63Neutral
Stochastic %K (14, 3, 3)53.35Neutral
Commodity Channel Index (20)48.62Neutral
Average Directional Index (14)15.08Neutral
Awesome Oscillator19.54Buy
Momentum (10)3.87Buy
MACD Level (12, 26)23.02Buy
Stochastic RSI Fast (3, 3, 14, 14)43.47Neutral
Williams Percent Range (14)−30.26Neutral
Bull Bear Power43.21Neutral
Ultimate Oscillator (7, 14, 28)59.69Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying opportunity.

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

SellNeutralBuy
4112

MOVING AVERAGES

NameValueAction
Exponential Moving Average (5)10401.77Buy
Simple Moving Average (5)10373.95Buy
Exponential Moving Average (10)10389.29Buy
Simple Moving Average (10)10402.88Buy
Exponential Moving Average (20)10369.44Buy
Simple Moving Average (20)10373.08Buy
Exponential Moving Average (30)10362.77Buy
Simple Moving Average (30)10348.67Buy
Exponential Moving Average (50)10415.13Buy
Simple Moving Average (50)10278.15Buy
Exponential Moving Average (100)10649.89Sell
Simple Moving Average (100)10745.74Sell
Exponential Moving Average (200)10860.48Sell
Simple Moving Average (200)11220.84Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)10388.64Neutral
Volume Weighted Moving Average (20)10359.08Buy
Hull Moving Average (9)10390.65Buy

Trade volume

In the recent few candles, there was an increase in volume for red candles, saw a decrease for blue candles nad started to increase later, the traded volume was between 2.81k and 1.16k with the 20-candle moving average being similar to 1.34k.


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